Overview
- SoFi launched SOFIE on Thursday, October 22, 2026, as a token that represents $1 of a deposit at SoFi Bank and currently pays a variable 4.40% APY.
- SOFIE is a deposit liability of SoFi Bank, N.A., so balances qualify for FDIC insurance up to the standard limits but are aggregated with a customer’s other SoFi deposits.
- Holders can convert SOFIE one‑to‑one into SoFiUSD to buy crypto or move dollars on Ethereum and Solana, and SoFiUSD itself is a payment stablecoin that is not FDIC‑insured.
- SOFIE is excluded from SoFi’s expanded Insured Deposit Program and its rate is variable, so customers should understand that coverage is shared and yield can change.
- The launch builds on SoFi’s rapid crypto product push this year and leverages the post‑GENIUS Act environment that restricts non‑bank stablecoin interest, which could pull idle digital dollars into regulated bank products.